The editorial in the morning paper gets right to the point in explaining the utterly illogical nature of President-elect Joe Biden’s economic “stimulus” plan:
In addition to $1,400 payments to individuals, Mr. Biden’s plan includes federal money to supplement regular state unemployment payments and a $15 an hour federal minimum wage. Consider the bizarre logic of those last two proposals: Mr. Biden seeks to kneecap already struggling small businesses by raising mandated wage floors, thus outlawing certain jobs, while simultaneously creating disincentives for returning to the workforce. This is economic stimulus?
In fact the Congressional Budget Office has said raising the minimum wage to $15 would destroy 1.3 million jobs.
Continue reading Biden plan to help the economy will make things worse at birdpuk.
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